Longevity in savings that aligns with his years is a powerful force. He started saving in 1952, 25 years before the creation of the retirement savings plan, we know today as a 401(k). Back in the day, companies provided their employees with pension plans and those without a pension plan lived on Social Security when they retired. Life expectancies were shorter, so you didn’t need quite so much money. Rogers was born in 1917, and his peer group’s life expectancy was about 48.4 years old.

By saving for retirement and using his downtime between flights to educate himself about money, he started investing and says that his account is now worth around $5 million. He says he wasn’t particularly frugal either and supported his church and other Christian causes throughout his life. However, he had time on his side, making periodic investments over an extended period of time.

Another practice that extends life: exercise. Rogers took up running at age 50 and hasn’t stopped yet. Studies have shown that anyone, at any age or stage, is helped by a regular schedule of physical activity, tailored to your personal needs. Even people who are wheelchair bound and living in a nursing home can benefit from a chair exercise program. Among older seniors, the ability to walk a quarter mile (one lap around a track), is linked to better health outcomes.

Until recently, Rogers ran five to six miles a week. He’s in rehab now and working his way back to his prior running and training schedule.

When you live as long as Rogers has, you outlive a lot of family members and friends. Rogers moved into a retirement community two years after his wife died, making new friends because, as he says, “… if I don’t, I’d have none left.”

Faith has also been a strong force in his life over these many years. At 98, he wrote a book, The Running Man: Flying High for the Glory of God. When he was starting out in his retirement years, he flew church missions in Africa.

An estate planning attorney can advise you in creating an estate plan that fits your unique circumstances.

Not everyone takes a step back to think this way, but it is a smart thing to do. With proper planning, your retirement could lead to better results for your investments and a better decision on when to take Social Security benefits.

First, viewing Social Security as part of your investment portfolio is easy to do but not that widely followed. If you think of your Social Security benefits as a conservative portion of your overall investment portfolio, it may give you a little leeway to be more aggressive with investments than you might otherwise be. Remember to acknowledge your comfort level with the amount of risk, so you can sleep at night.

Social Security retirement benefits are very low risk, since they pay steady, government backed income with no market fluctuations. You don’t want to make a dramatic portfolio shift based on this, but you might change up your equity exposure by 5% to 10% of your portfolio, assuming that you’ve been risk averse up to now.

If you already have ample growth investments, thinking of Social Security as part of your overall portfolio might give you reason to trim your equity holdings. By using Social Security as your backstop, your investments may not need to work as hard and you don’t have to put yourself in a risky position.

How about tapping IRAs early, to avoid claiming Social Security benefits until as late as possible? It’s not a bad idea, since the payout from Social Security grows at 8% each year you wait, up to age 70. Most retirees start taking Social Security earlier, then get locked into a lower benefit.

If your income is lower in your 60s, your income taxes will be lower, so the level that your IRA withdrawals will be taxed will also be lower.

What about the stability of Social Security? It’s not certain that Social Security will remain fully funded without some government intervention. The latest annual report from the Social Security trustees estimates that if no changes are made, the system will be paying most but not all promised benefits by 2034, when the “trust fund” money runs out. However, as long as Americans are working and payrolls are generating money for Social Security, benefits will be available to pay future retirees.

An estate planning attorney can work with you to create an estate plan and get the best results from your retirement opportunities.

This is similar to what is happening to paychecks for working people. Earlier this year, Treasury officials adjusted the withholding tables to reflect changes for 2018 made by last year’s tax overhaul, so these changes are taking place in both pensions and paychecks. However, the adjustments didn’t include other changes. The current withholding tables include tax-rate changes but not the impact of the $10,000 cap on state and local taxes. The IRS says the tables never included this information.

The result is some pension recipients could end up being under-withheld because the automatic adjustments to their pension payments set them too high. Most people must pay at least 90% of the taxes they’ll owe during the year or by the next mid-January, if they are paying quarterly estimated taxes in order to avoid paying a penalty. That penalty is based on an annual interest now at 5%.

Pension payments and tax filer’s circumstances vary widely, so knowing who’s at risk is tricky. A typical married pension recipient with a $50,000 pension has a reduction in withholding of about $818 per year.

A pension payer who follows the government’s tables isn’t responsible, if they are under withheld.

Another challenge: most retiree’s income fluctuates. They may have part-time work some of the time or take retirement account withdrawals. Medical expenses may become big, or shrink, or may become deductible for the first time. Additional standard deductions kick in at age 65.

One expert notes that the responsibility is on the taxpayer to make sure the withholding is correct, not the employer.

To help, the IRS has posted a new withholding calculator. To use it, you’ll need a copy of your 2017 tax return and estimates of your income for this year. You may want to submit a revised Form W-4P, if you find there are changes warranted.

There are a few different scenarios, if you underpay. If income is less than $150,000 and you’ve paid in an amount equal to 100% of last year’s tax, often there is no penalty. If you’re earning more than $150,000, then the threshold rises to 110% of the previous year’s tax. Another is that the IRS sometimes will waive the tax penalties, if this is the year you retired or became disabled. Sometimes the IRS will cut you a little slack. You’ll need to send in Form 2210 with proof and an explanation that the mistake was just that—a mistake.

Lump Sum Cash Payment – The surviving spouse has the option of cashing out the account with a single lump sum payment. This is the most costly option in terms of taxation.

Monthly Benefits – Most plans allow a surviving spouse to receive a monthly benefit for life. Whether this is a better option than taking a lump sum depends on the life expectancy of the surviving spouse. It is also a good choice if the surviving spouse does not want to invest the money.

IRA – A surviving spouse can normally transfer the account assets into an IRA. The assets will then be treated as if they were always the property of the surviving spouse.

Inherited IRA – Transferring into an inherited IRA is another option available to a surviving spouse. This is can be very beneficial if the surviving spouse is much younger than the pensioner.

Lump Sum Cash Payment – The surviving spouse has the option of cashing out the account with a single lump sum payment. This is the most costly option in terms of taxation.

Monthly Benefits – Most plans allow a surviving spouse to receive a monthly benefit for life. Whether this is a better option than taking a lump sum depends on the life expectancy of the surviving spouse. It is also a good choice if the surviving spouse does not want to invest the money.

IRA – A surviving spouse can normally transfer the account assets into an IRA. The assets will then be treated as if they were always the property of the surviving spouse.

Inherited IRA – Transferring into an inherited IRA is another option available to a surviving spouse. This is can be very beneficial if the surviving spouse is much younger than the pensioner.

Designate Your Beneficiaries. You can list your beneficiaries on your retirement accounts (401(k), 403(b), IRA, etc.) when you complete the application. Likewise, you can designate your beneficiaries on bank and investment accounts by setting up a TOD (Transfer on Death) designation. It’s easy to do and costs nothing. Remember that beneficiary designations supersede any wish you make in a will.

Draft Your Will. A will is a legal document and is a written statement of your intentions, including where you want your possessions to go and how you want the orderly disposition to happen. See an attorney, as each state has different laws.

State Your Health Care Wishes. Use a Health Care Proxy to let someone you trust make health care decisions and carry out your health care wishes in the event that you are incapacitated.

Sign a Durable Power of Attorney. This form allows someone you trust to make financial decisions in the event you are unable to do so. There is a huge difference between a limited power and durable power of attorney. Talk to your estate planning attorney about these documents.

An experienced estate planning attorney can spend time with you and review your estate issues, complete a will, health care proxy, durable power of attorney, and check beneficiaries, as well as any tax issues. Use an attorney who specializes in this area to ensure your wishes are properly documented and you achieve what you are trying to accomplish, now and in the future.